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CNN
Dec 30, 2012 11:30am PST
american. that's the fiscal cliff. we reach the brink in two days. let's go live now to dana bash on capitol hill. because of news of a setback. dana, what do we know? >> that's right. we got this word from democratic sources about a half an hour ago. maybe a little bit more. that they consider a major setback to be going on right now. a poison pill, something that the republicans offered last night and democrats rejected today. it's called technically chain cpi, the buzz word for it. what it means for real people and real terms, would be that social security recipients would see smaller checks on a monthly basis and that's why democrats are saying that this is a nonstarter. the president did propose this to the house speakers as part of a larger deal. he even talked about it again this morning on nbc, the president. but democrats are saying that they simply do not see this in this miner, smaller mini deal. they don't want to deal with the entitlement issue at all until a later date when they can deal with it in a broad sense. here's an example of what we heard a half hour ago from the republican leader followed by
CNN
Jan 1, 2013 9:00am PST
don't know how wall street will react to the senate deal on a fiscal cliff. alison kosik at a new york city diner. still waiting for the house to come up with its own version. what do we make of what folks think about what's been put on the table here, at least preventing some middle class folks from their taxes going up? >> reporter: we certainly are having great conversations with a lot of pple at this particular diner. they're having breakfast. food looks great. we're having great conversations here at the tick tock diner. couldn't think of a more fitting place, tick tock diner, get it clock continues ticking on the fiscal cliff. it is a great pun? very fitting. a lot of people talking about frustrations and what their thoughts are about how congress has handled this whole fiscal cliff situation. i want to talk with kelly about that. you have strong thoughts about how congress has handled this. what are your thoughts? >> i do. i think it's really hard and they keep doing this over and over again. last year the debt ceiling. this year it's the fiscal cliff. and it just seems like the
CNN
Dec 27, 2012 8:00am PST
before the fiscal cliff. will it work? probably not, but good idea, i guess. they plan to run ads in the "new york times" and "the washington post." >>> more than three years after stuck gas pedals put a dent in toyota sales, the company plans to spend more than a billion dollars to compensate owners. even if they don't own a toyota anymore. alison kosik has more. tell us about how this deal is going to pay out people who currently own toyotas and those who sold them. >> there are three parts to this. this is turning out to be one of the biggest lawsuits of its kind. it reinvolves around the sticky pedal issue. that's where some drivers said they experienced unintended acceleration. their gas pedals got stuck in floor mats. this settlement is going to cover about 16 million vehicles for 1998 to 2010 models. once a judge approves the settlement, current owners of the cars will get a brake override system installed as well as a customer care plan with a ten-year warranty on parts tied to the acceleration. another part will compensation current owners whose cars are not eligible for the system and a
CNN
Dec 29, 2012 9:00am PST
avoid going over the fiscal cliff that comes on new year's day. but after a meeting at the white house, the president said he is hopeful. >> i just had a good and constructive discussion at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. >> cnn's chief business correspondent ali velshi joins us from new york with some very good insight. senate majority leader harry reid has said if they don't reach something by monday he'll bring forward a bill to help out the middle class for an up-and-down vote. >> right. >> put everybody on the record, but especially republicans. isn't that the tactic? >> exactly right. the step before that is harry reid is working on some bill that might get bipartisan support in the senate. president obama in that meeting apparently told them try and work something out. and reid left and made a statement last night, as did mcconnell,
CNN
Dec 27, 2012 6:00am PST
worry, carol, that's hanging over all of this is the fiscal cliff. although we're still in the middle of wondering what congress is going to do about it, companies are already holding back hiring so that is clearly impacting the jobs market but the good news once again is the layoffs are slowing, down 12,000 to 350,000 last week. carol? >> thank you very much, washington. alison kosik thank you so much. >>> growing outrage over the decision of a new york newspaper to publish a map with the names and addresses of people who have gun permits. the interactive map was created with information available publicly. it pinpoints the location of legally licensed permit holders for handguns. we reached out for a statement from the newspaper, it sent us this, "the massacre in newtown, connecticut, remains at top-of-mind for many of our readers. or readers are understandably and keenly interested to know about who owns guns in their neighborhoods." scott summervila is president of the westchester new york fire owner association. he is on the list and joins me this morning. >> good morning, how are you? >> i'm good. you opened the newspaper and see your name, is that how you found out? >> yeah, actually i got a bunch of phone calls and said hey, by the way
CNN
Jan 1, 2013 6:00am PST
attached to the debt ceiling since it was unattached from the fiscal cliff and we will be talking about this for some time, joe. happy new year to you. >> happy new year to you, brianna, up all night and still ticking. thank you for your work. >>> eight senators voted against the compromise measure. tom harkin, tom carper and michael bennet voted no and mike lee, richard shelby, rand paul, chuck grassley and marco rubio. setting politics aside for a moment answer the question most of you are probably wondering on this new year's day, what does the measure mean for me and my wallet? cnn's christine romans is crunching the numbers. christine? >> joe for 98% income tax rates will not go up to the clinton era levels. it means if you're unemployed and you've got your last unemployment benefits check, the federal unemployment benefits check last friday, will you get another check. unemployment benefits have been extended. if you're a teacher who writes off supplies you buy for your classroom you're able to do that. if you're a doctor you're not getting a pay cut because of your medicare reimbursement falling off the fiscal cliff so
CNN
Dec 27, 2012 11:00am PST
retirement and now they have to use it. we assume we hit the fiscal cliff come january 1st. when would employers begin to adjust withholdings to reflect this new reality? when would you and i and americans feel it? >> some corporations are going to start on the first paycheck withholding back at the 2000 levels, taking more money out and the deduction will take 6% out. some will see it in the first paycheck and others are waiting and hoping. this is causing a giant mess. believe me for your boss as well as everybody who gets a paycheck. it's ridiculous. >> it is. thank you. appreciate it. >> thanks, don. >> celebrities who are putting a spotlight on giving. how matthew conaughey is pushing back on fitness. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do this without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could also use an umbrella. fall in love with progressive's claims service. . >>> welcome back. this week we are profiling celebrities that are more than their day jobs. singing and dancing. big stars and big giving. matthew mcconaughey
CNN
Dec 29, 2012 11:00am PST
the nation's capital, senators are working to try to keep all of us from going off that fiscal cliff. we've been talking about that for what seems like, well, forever. they've got to reach a deal by new year's day. here's what's happening right now. senate leaders on both sides are trying to reach a budget deal hoping to avert a 2% hike in everyone's paychecks early next year. plus 2 million unemployed people stand to lose their jobless benefits. jessia yellen, the president says he's optimistic but he sure had a firm tone after meeting with the senate and house leaders yesterday. let's just give that a listen. >> so the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organized timetable. why everything always has to wait till the last minute. well, we're now at the last minute. and the american people are not going to have any patience for a politically self-inflicted wound to our economy. not right now. the economy's growing. but sustaining that trend is going to require elected officials to do their jobs. >> so jessica, are t
CNN
Dec 30, 2012 1:00pm PST
any new volkswagen. visit vwdealer.com today. >>> this whole fiscal cliff mess shows how incredibly out of touch your the way people really live in this country. you are off in la la land and everyone is saying how you're acting like a bunch of spoiled brats who are more interested in being right than in doing the right thing and actually representing the people who elected you. >> my new year's message to washington is this, there are not enough wealthy people or corporations to keep you in office. in that light, please simply grow up, govern, but most importantly, support middle class policies. >> americans, as you can see, are clearly very frustrated with lawmakers. at this moment, there are no deal yet to be reported when it comes to trying to keep your taxes from going up. government spending for things like education, research and investments in infrastructure will also take a big hit. but my next guest says that our defense department is in a much better position to endure a hit like that. lawren lawrence korb joins me in washington. he's former assistant secretary of defense
CNN
Dec 23, 2012 7:00pm PST
you face a new year with higher taxes. apparently a fiscal cliff solution is not wrapped up as a gift under your christmas tree. makers are home for the holidays. house speaker john boehner is in ohio, president obama is in his native hawaii. you'll hear about a last ditch effort that may happen after the holiday. that story just a few moments away here as well. >> a united states senator was arrested for drunk driving early sunday morning. idaho republican was taken to jail in alexandria virginia after midnight. he was stopped for running a red light and charged with driving under the influence. the senator has issued an apology. he was released on $1,000 bond and he has a court date. >>> christmas, two days away, and for much of the country it's going to be a white one. heavy snowfall has blanketed several states up to five feet of snow is expected. snow is also falling back east as well. like lake effect snow has blanketed areas around cleveland and buffalo. high winds are threatening to delay flights in new york, philadelphia and washington. >>> the report you're about to see has
CNN
Dec 29, 2012 10:00pm PST
racing to find a way to avoid the fiscal cliff. it is unclear if any can get enough votes to pass conference. -- congress. president obama says he's optimistic a compromise can be found. >>> across india today, a nationwide protest took a new heartbreaking direction. people across the country were already out in angry droves calling for justice in the wake of a brutal gang rape. then word today began to spread that the victim died in the hospital. a 23-year-old woman. six men were already held on rape charges. now they're charged with murder. >>> chuck hagel's name has been floated as president obama's potential choice for the next defense secretary. but some don't want to see the former republican senator and vietnam war vet get the position. some from his own party. this ad is in "the new york times" right here. and it says, hagel is wrong on gay rights, wrong on iran, wrong on israel. and the ad was placed by the law of cabin republicans, a group that represents gay republicans. clarke cooper is executive director. thanks for joining me, clarke. here's that ad. this ad speaks volumes. wouldn't your party be happy to have a fellow republican, hagel, in the obama administration? >> not necessarily. so, don, you mentioned the three thin
CNN
Dec 26, 2012 6:00am PST
fiscal cliff. >>> blizzard warning in up to six states. in arkansas the national guard has been called to provide ambulance service for residents. heavy snow and strong winds will lead to whiteout conditions across the ohio river valley. the heaviest snow is expected to move into western pennsylvania and new york state this afternoon. >>> hundreds of american families wanting to adopt russian children may have their dreams dashed. they have given final approval for a ban on such adoptions, seen as payback for a recently signed u.s. law imposing travel and financial restrictions on human rights abusers in russia. >>> there are six days left until the u.s. crosses over the so-called fiscal cliff. in case washington doesn't make a deal we're doing our best to get you ready. every day we're taking a look at how the fiscal cliff if we go off the fiscal cliff how that will affect you from the increase in your tax bill to planning for your retirement. today we'll focus on your portfolio. ryan mack joins me via skype from detroit. >> good morning to you, how are you doing today? >> i'm good. y
CNN
Dec 26, 2012 8:00am PST
gallup poll shows half the country still thinks a fiscal cliff compromise is likely, down nine points from earlier this month. ♪ [ woman ] ♪ what i want this season ♪ if you'd like to try and guess ♪ ♪ it is something very special ♪ i would readily confess [ dogs barking ] ♪ 'cause all i want this season ♪ ♪ is something from your heart ♪ la da da, la da da [ male announcer ] thinking of others this holiday season, travelers. >>> some gun owners in the new york city area say they are being unfairly targeted and they're blaming a local newspaper. here's why. "the journal news" published an interactive map on its website showing the names and addresses of all handgun permit owners in westchester and rockland counties. you can see them here represented by red dots. the response has been overwhelmingly angry. and some residents who don't have guns say it lets potential robbers know who isn't armed. "the journal news" says it made the decision to put up the map in response to the connecticut school massacre. >>> if you live in los angeles and own a gun, today is the day
CNN
Dec 26, 2012 11:00am PST
york state are not wondering anymore. >>> and six days and counting until we hit the fiscal cliff. the president is cutting short his hawaiian vacation to go back to work. we'll look at whether a deal is likely to get done. >>> and not what people in alabama wanted for christmas. tornadoes ripped through the south. >> i prayed to god as loud as i could and i was just praying for my safety. and i knew that -- i prayed that the church stayed put. rsal] ♪ everybody well don't you know it's me now? ♪ ♪ yeah who's it, who's it huh? ♪ ♪ willy's back with a brand new beat now, ♪ ♪ yeah doin' it doin' it up! ♪ heyyy yeah, tryin' to bite my style! ♪ ♪ heyyy yeah, how you like me now? ♪ ♪ na na na na na na na na ♪ and everybody go uh! >>> we told you last hour president obama is spending his last few hours in hawaii before returng early to washington. he's expected to arrive tomorrow, just five days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senio
CNN
Dec 26, 2012 9:00am PST
this year? >> first of all, the fiscal cliff issues were hanging on shoppers' minds. that's one reason. you know, you look at whether or not the after christmas shopping will help. it will in some ways. in many ways, though, people are walking into stores using gift cards. in fact the national retail federation says 80% of shoppers bought a gift card. that's almost $30 billion worth. those are counted when they're sold and not redeemed. if you're a retailer, most people wind up spending more in the store, so that's a good thing for the retailer if they spend more than that's on the gift cards. those after christmas sales can help a bit to help the retailers out, suzanne. >> i bought the gift cards and received gift cards, so i might be going back, too. how does that impact overall sales and how they measure all of this? >> returns do have a big effect on sales numbers, and they wind up eating into profit for a lot of retailers. they say almost 11% of holiday gifts are returned, and that amounts to billions of dollars. on the other hand returns could end up being a good thing, too, beca
CNN
Dec 30, 2012 3:00pm PST
news is good news and fiscal cliff talks are at a standstill with neither side wanting to give ground at this point. >> trying to find a lining around that cloud, if there is one, and democrats and republicans are still talking. they are still trying to reach a deal to stop the spending cuts and tax hikes that are likely or possible to push our economy back into the recession if we go over the fiscal cliff. >> but ali, neither side is budging much. you have been reporting on it for the last couple of hours. friday though, president obama said that he was optimistic that the two sides could reach a deal. this morning, he sounded less positive though. >> if, you know, if people start seeing that on january 1st, this problem still has not been solved, that we haven't seen the kind of deficit reduction that we could have had, had the republicans been willing to take the deal they gave them, and if they say that people's taxes have gone up which means consumer spending will go down. >> and keep in mind that the senate is the first hurdle. any deal has to pass the house. we are not into the
CNN
Dec 24, 2012 8:00am PST
fiscal cliff averting, tax-reforming package all wrapped in a big red bow, better fire off a quick note to santa. a grand bargain isn't going to come by christmas or new year's when all sorts of tax increases and automatic spending cuts take effect. it may take up president obama's bare bones stopgap measure. that plan would block tax hikes for those earning $250,000. it would extend unemployment benefits to 2 million americans and put off spending cuts until the new year brings a new congress. our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the president wants which is something that is raising taxes on all americans m
CNN
Dec 31, 2012 6:00am PST
. >>> with the fiscal cliff deadline just hours away, investors are hoping that there's going to be some kind of breakthrough in these talks. alison kosik is at the new york stock exchange. alison, simply give us a sense of the mood there. people must be watching very closely on new year's eve what they're doing. >> investors are certainly watching closely on capitol hill. a final trading day of 2012 could go two ways. it could be quiet because no one's around to trade because it's a holiday, or it could be one of the few volatile days because people are trying to shore up their positions based on how the negotiations are going on capitol hill with the fiscal cliff. some analysts and traders don't really know how the market is going to react if the deadline passes and there's no deal. but one trader told me no deal is better than a band-aid measure or a temporary measure because, as the market sees it, there's no certainty with that. with a short term or band-aid measure, things could keep changing, meaning the rules of the road as far as taxes go, and who's to say that lawmakers would be able to come to any agreement once they get the new negotiations go
CNN
Dec 28, 2012 8:00am PST
submitted, especially the bills that have been passed, the deal with the fiscal cliff, those bills would be worthless. they would go into paper and everything would have to start from scratch. the new congress would have to start a bill and start the process from the beginning. now there are some tricks that congress has to try to speed things up when it wants to. so to some degree, it's not that big of a deal. if there was a deal in the offing, january 3rd, enough votes for it, they could get around the hurdles. but i'm glad you brought up the deadlines because another one is tomorrow. unemployment benefits run out tomorrow for 1 million people. not true. the unemployment portion of the fiscal cliff actually hits us tomorrow. and that's when 1 million people are estimated to see unemployment benefits run out. and tomorrow is also the day that the house will return. i know we said that democrats shamed the house into come iing back, but house republicans would say they have been waiting for an offer from democrats in order to come back and that kind of gets to the finger pointing here. both sides are looking to each other and the fact is these lawmakers were elected to make tough decisions
CNN
Dec 31, 2012 11:00am PST
about for more than a year. now, as the new year's deadline approaches, the fiscal cliff may be moving to a later date, in 2013. it is part of a possible deal that is forming at this hour. this, of course, represents the $3.6 trillion the u.s. government spent last year, unless congress reaches a deal when the new year hits. so too will the fiscal cliff. $600 billion worth of tax increases and spending cuts. it is supposed to be automatic. but now republicans are suggesting a delay, the president just spoke trying to add pressure to congress to avoid going over the fiscal cliff. listen. >> my preference would have been to solve all these problems in the context of a larger agreement, a bigger deal, a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible way that doesn't just deal with the taxes, but deals with the spending in a balanced way, so that we can put all this behind us focusing on growing our economy. but with this congress, that was obviously a little too much to hope for at this time. >> let's turn now to chief wh
CNN
Dec 30, 2012 2:00pm PST
regenerist. >>> back with our roundtable discussion on the fiscal cliff and your money. ron brownstein is cnn's political analyst and editorial director of the national journey. stephen moore, senior economics writer at the "wall street journal" and necessary washington. joining must new york is todd showen berger from land capital. we showed a poll most americans want people to compromise. no purr surprise there why can't republicans and democrats get their act together and compromise? >> well, i think this previous discussion we were just having is kind of an example of what's happening in congress is, you know, democrats, liberal democrats really believe that taxes don't matter around they can continue to raise them as high as they want. i happen to think they are critically important. i think it is insane to be raising taxes on investment and businesses right now i think it will make america less competitive and destroy jobs in this country, but the point is you've got a big philosophical difference of opinion on these things and they are not small matters but big meters of about the direction of our country for the next 10, 20 years. look, it's one thing to get a compromise and an agreement but an agreement that laid the country in the wrong direction, that doesn't be
CNN
Dec 31, 2012 8:00am PST
that progress is being made. we'll have more on that and the fiscal cliff negotiations in a minute. >>> first, i want to show you the rest of the world is ringing in the new year. midnight arrived in asia. they are calling it a pyre tech nick musical. they were scheduled to begin an hour before midnight. hong kong on the top ten places to ring in the new year. let's listen. ♪ ♪ ♪ ♪ >>> ring in the new year, good morning 2013. we'll continue to monitor all of these celebrations as the day rolls on. the night rolls on in some cases. midnight in the u.s. is the big fiscal cliff deadline. there are two fronts we are watching today. capitol hill and wall street. let's see if there's any movement on capitol hill. stock markets moving up because it's a little erratic. dana bash is watching that live for us. dana, last hour you were saying progress is being made. now you've been hearing rumblings on the opposite from the far left. what are you hearing now? >> very interesting. we have been hearing from both sides of the aisle that part of the big issue has been to get over objections from conservative republicans who are not going to be happy with any potentia
CNN
Jan 1, 2013 11:00am PST
fiscal cliff when the new year began. but practically the senate pulled a parachute that should soften the fall. about 2:00 a.m. eastern, senators passed a round of compromises with a vote of 89-8. i said should. this deal is far from done. now it is up to the house to stop $600 billion of automatic tax hikes and spending cuts. at this hour, though, a vote is not scheduled. multiple house members took to the floor today to say their vote will be no. >> the current agreement with the fiscal cliff was agreed to, we're told, somewhere around 11:30 last night. the bill was voted on at 2:00 in the morning. now, again this is new year's eve. i don't know how many senators between midnight and 2:00 a.m. in the morning had a chance to thoroughly read this agreement that is 157 pages long. you see, this is not how we should run our government. this is drama. unnecessary drama. >> so what did the senators pass? well, it was very long bill, 157 pages. there are a host of tax credit extensions, medicare extensions, and a lot more. but here are some of the key points. couples making $450,000 or mor
CNN
Dec 31, 2012 9:00am PST
before potentially we take the plunge off the fiscal cliff into much smaller paypaychecks. many of you are weighing in. >> my new year's message to washington is to secure the blessings of liberty to ourselves and our posterity and invest in our children, in our schools, and in our communities. raise taxes on the rich, and eliminate corporate loopholes and do not cut social security or medicare. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone likes 50% more... [ midwestern/chicago accent ] cheddar! yeah! 50 percent more [yodeling] yodel-ay-ee-oo. 50% more flash. [ southern accent ] 50 percent more taters. that's where tots come from. [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. 50% more spy stuff. what's in your wallet? this car is too small. [ woman ] ♪ what i want this season ♪ if you'd like to try and guess ♪ ♪ it is something very special ♪ i would readily confess [ dogs barking ] ♪ 'cause all i want t
CNN
Dec 30, 2012 1:00am PST
-- >> they call "fifty shades of grey" mommy porn. talking about that kind. >> fiscal cliff, you were talking about it in an article. as a comedian in the clubs, which you just came from tonight in new york, are people freaked out? they go, whatever, this is crazy? >> people are so freaked out. no one is paying attention but us in the media and political people. i'm not kidding you. this is the same old b.s. they've seen year in and year out. and they ignore congress or hate congress. that's why they have a 9% approval rating. we reelected them. we're like the person in a bad relationship with low self-esteem. we have to shake ourselves out of this. >> we live in a vacuum. it's like an echo chamber. sometimes i leave here and go for drinks with friends and go, did you hear -- and they're like, what? >> believe me. i bring it up in the clubs. one person knew what the fiscal cliff was. >> thank you. happy new year. >> happy new year, don. >> this week's moment next.
CNN
Dec 29, 2012 2:00pm PST
. >> love you as well. happy new year. >> you too. >>> three days away from the fisc fiscal cliff as our lawmakers struggle to make a deal. it's worth asking, how did we get sneer we'll tell you, next. now with a fancy coating that gives you a burst of wildberry flavor. now why make a flavored heartburn pill? because this is america. and we don't just make things you want, we make things you didn't even know you wanted. like a spoon fork. spray cheese. and jeans made out of sweatpants. so grab yourself some new prilosec otc wildberry. [ male announcer ] one pill each morning. 24 hours. zero heartburn. satisfaction guaranteed or your money back. >>> half past the hour now. a look at the headlines. officials in pakistan say they found the bodies today of 21 policemen believed captured and killed by the taliban. they were found not far from pakistan's border with afghanistan. the taliban said yesterday that they had more than 20 police hostages. pakistani officials say they were all shot execution style. >>> this is syria today where an alarming number of people died outside the city. o
CNN
Dec 31, 2012 1:00am PST
lot slimmer. >> lisa desjardins following the fiscal cliff negotiations on capitol hill. do you have any good news for us, lisa? >> reporter: the news is a little better than it was earlier today. we know negotiations are still happening. there was a point today where we thought there was a total breakdown. tonight it's between senator mitch mcconnell and vice president joe biden. we're some of the last people in the building. i know -- come on through, guys, if you want. there's one of the crews that -- the worker crews are starting to come into work tonight. we're the last reporting crew. all the members of congress have pretty much gone. the republicans in the house were meeting late tonight to try to talk about what to do, in the end this is what our producer deirdre walsh heard from them. the message is just sit tight, stay tuned and i think what we have to do, don, is find out tomorrow morning, whether there is any progress between senator mcconnell and vice president joe biden. there is definitely hope. there is not a lot of time. >> let me tell you this, lisa. when you see the workers there, a
CNN
Dec 29, 2012 4:00pm PST
latest on the fiscal cliff negotiations in a few minutes. a 31-year-old woman has been charged with second degree murder as a hate crime in connection with a subway death in new york city. they identified the woman as erica ericamenendez in new york. the victim was a store owner and graphic designer. witnesses described a womani pacing the platform and talking to herself before pushing the victim on the tracks as a train entered the stadium. the video shows a woman running from the scene. a airliner smashed into a highway in russia. four of the crew were killed, no passengers were on board and no one on the highway was injured. it was arriving when it over shot the run way. a lot of celebrating early this morning in portland, maine, the first same sex couple said i do under a new state law that took effect at midnight. they said it's surreal. maine, maryland and washington state all approved same-sex last month. gay marriage was legal in d.c. and six other states. >> heart breaking news for american families waiting to adopt a child from russia. president putin has signed into law that americans cannot adopt russian children. it's said to be retaliation. in a few
CNN
Jan 1, 2013 8:00am PST
to leave it up to chance. >> sort of a fiscal cliff hanger, so to speak, pardon the pun. let me ask you this, if they can't -- it's the new year, i've got to get out a few zingers while i've got the chance -- if they can't come to any kind of decision to make a vote today, are there serious repercussions? we're already over the cliff. we're on the first of the year now. if they can't do any vote today, what are implications? >> reporter: the most obvious repercussion would be if it -- if it's delayed until tomorrow, that's when the markets open, you can see market effects. the market effects we would anticipate would b
CNN
Dec 27, 2012 9:00am PST
. >>> well, the talk has been about the fiscal cliff, but there's something else to worry about. that's the debt ceiling. tim thigh geithner says the u.s. is going to hit its legal borrowing limit on monday. alison kosik is in new york. al ison, what are the possible consequences can have. >> it would cause a whole host of consequences. what afternoon happens here we often talk about the debt ceiling and people's eyes glaze over. i want to talk about what the debt ceiling is. it's a cap, set by congress, the amount of money that if federal government can borrow. the current creeling is at $16.3 trillion and what secretary treasurer tim geithner said we could hit it on monday, meaning new year's eve and what the treasury will start doing is using extraordinary measuring to keep the government from going over the limits. so let's say for example you're a government worker. that could mean that the government could go into your pension. then what could happen if we do go through the creeling? well, the treasury won't be able to pay the country's bills in full or on time and that means the u.s. could default on some obligations. it would cripple the economy, send markets into the tail spin. that could hit retimer saving
CNN
Dec 30, 2012 4:00pm PST
facing lawmakers' last ditch efforts to avoid going over the fiscal cliff, but there's this other thing happening, the debt ceiling. let's go to jean standing by in new york. i don't think she ever leaves the place. she's a senior writer for cnnmoney.com. the debt ceiling, $16.4 trillion. that's the united states' borrowing limit. that's actually the thing that got us into this ridiculous pickle in the first place. you remember that night in august of 2011 when we were battling about the debt ceiling. they couldn't make a deal and so they pushed it off to today, to tomorrow. we're going to hit the debt ceiling again tomorrow. the treasury can probably find $200 billion through what they call extraordinary measures which is sort of shifting things around a bit. but at some point in the next month, this is going to be a big problem. we're not really dealing with this, are we? >> oh, my god, no. we're not even coming close to it. we will basically have the same sort of brinksmanshiplike experience brinksmanship experience in february or somewhere around there because we're going to hit the debt ceiling tomorrow. the treasury secretary has said i've got about
CNN
Dec 28, 2012 11:00am PST
americans are trying as well. >>> we talked about the effect of hitting the fiscal cliff on american taxpayers. what about businesss? what about businesses? rick newman of u.s. news and world reports tells us they're cutting back already. >> to say that business leaders are anxious i think is an understatement. i think they're thoroughly disgusted because you couldn't run a business like this, and they all know that. it is just kind of driving them crazy. but business leaders have been watching this for a long time, don. unlike a lot of consumers who may have just started paying attention over the last couple of weeks. business leaders have known this is coming for a long time. they know how ugly and dysfunctional it was in 2011 when we went through something similar with the debt ceiling. and they have more or less been expecting the same thing. so what we have seen over the last couple of months is that business activity has really slowed down. >> rick newman, u.s. news and world reports. why don't we remind you once again, that meeting is under way at the white house. at the white house, between the president and the top four leaders of congress, we got our eyes o
CNN
Dec 30, 2012 10:00pm PST
showdown on the fiscal cliff. one of the big questions is, what will happen next? editor at large for fortune magazine, he joins us from new york right now. you have followed most of the major economic stories for more than 20 years now. >> i'm not trying to make you seem old. sometimes i do, when i say how long i've been doing this. is this the first time you've seen something go this close to the wire? >> i think so, don. and what's really troubling about the debate is really missed by a lot of commentators, this is really a spending issue. we understand that even if taxes go up on individuals making over 200,000 and families making over 250, it only plugs about 8% of the deficit problem over the next ten years, we have a $1.3 trillion deficit for 2012. it's going to be about a trillion through 2013. we're borrowing 35 cents on the dollar. the enormous problem is interest rates are way below normal, so when they spike, the government is borrowing very short term to keep its costs down. the deficit is going to swamp the economy. and at that point you're going to have the debt crisis, and you're going to need a whole new stream
CNN
Dec 28, 2012 6:00am PST
. that was when house speaker john boehner failed to bring his plan b for avoiding the fiscal cliff. he failed to bring that to a vote. the market has been selling off a bit every single day because nothing has happened to make investors feel like a deal is going to be reached. news of the meeting today happening at the white house this afternoon, that did help stocks make a comeback late yesterday. but they are selling off once again. it's fun ny you how things can change so quickly. there's just not that much confidence that a deal is going to get done. the market doesn't want a band-aid. one trader said it's too late for that. what the market is looking for is a full deal. >> all right. alison kosik at the new york stock exchange. thank you for that. >>> every 19 minutes someone dies of a drug overdose. most are not from elicit drugs, but fda drugs prescribed to millions of americans. dr. sanjay gupta reports. >> reporter: i rode along with lieutenant craig. he's been on the job for 30 years. he will tell you when he takes an overdose call, the usual suspect is a painkiller. >> what sort of impact have you seen here in seattle? >> i think if you pull a group of people together from this community, someone in that group is going to have had a friend or loved one t
CNN
Dec 24, 2012 11:00am PST
-atlantic and northeast. >> okay, alexandra steele, thanks very much. >>> from fiscal cliff to crime and punishment, we'll show you our top ten stories of 2012 next. >>> you know me as carl. hey, mom. stationed in germany. shoutout to all my family in trentth, new jers trenton, new jersey. i miss you all, i love you all. if you missed it, it's your fault. i did my part. [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. >>> here is the mug shot after crapo's arrest in a washington, d.c. suburb. he's a mormon and supposedly doesn't drink alcohol, but it turns out crapo, in fact, does drink alcohol given the arrest. here is a part of his statement h
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